MIKE IOANE AND THE FEDERAL RESERVE

The more I read up on how our government is corrupt I like the fact that Michael Ioane is fighting the IRS. Every wonder why Michael Ioane is suing the IRS?
According to a recent poll by Rasmussen Reports 3 out of 4 Americans, from across the spectrum of age, race, political affiliation and income, agree with Ron Paul and the 279 cosponsors of his bill (H.R. 1207) in the House of Representatives that the Federal Reserve should open its books to an independent audit.
This is yet another indication that the topic of the Federal Reserve is being pushed to the forefront of the United States awareness.

It was only a short time ago that Ron Paul would write legislation to abolish the Federal Reserve and it would be completely ignored if not scoffed at in Congress. But since his surprisingly successful Presidential run, which scored a major victory in educating a large percentage of young people on the intricacies of the Federal Reserve System, fractional reserve banking and monetary policy, his fellow Congressmen have no choice but to sit up, take notice and sign on to his bill.

In a speech on the House floor yesterday, Ron Paul pointed to the fear that is becoming apparent in both the Federal Reserve System leadership as well as the leadership in Congress. He turned the old argument that is often used on the American people to pass legislation such as the Patriot Act and in defense of carrying out wiretapping…etc against the Federal Reserve. The argument that states that if you have nothing to hide you should have nothing to worry about.
Chairman Ben Bernanke and the Federal Reserve System demonstrated recently just how concerned they are with the momentum that House Resolution 1207 is building by holding a town hall meeting on PBS. During the town hall, Bernanke reiterated the same weak argument he stated to Ron Paul himself during his testimony before Congress. He said that by having an independent audit of the Federal Reserve it would politicize the monetary policy decisions that the Fed makes when contemplating a move in interest rates.
This argument is essentially a straw man, because H.R. 1207 does not give Congress the authority to go in and audit the Fed’s interest rate moves immediately after a decision is announced. Bernanke takes that straw man argument a step further and says that the ability for Congress to audit the Fed would strip the Fed of its independence. But in reality it is already clear that the Fed takes cues both from the White House as well as Wall Street when deciding on where to place interest rates. Because if they were truly independent and had the best interest of the American public’s long term future in mind they would not keep interest rates artificially low, a practice that simply deflects a monetary crisis further into the future and continues to inflate a bubble.

When September comes Congress will reconvene and the youth of the nation will return to schools to be among their peers, the brushfire that is H.R. 1207 may be raging beyond the control of any Ben Bernanke town hall. It is then that all of H.R. 1207’s supporters may step up toe to toe with the Federal Reserve System. Neither side is willing to back down. If H.R. 1207 sees a vote on the House floor it may well be the first shot across the bow in a battle that will be the populous against the world financial oligarchy. May the best man win.

I would like to see Michael Ioane bet the IRS. It will give us all a little bit of hope.

Here some light reading on the man in charge of our money. So explain to me why Mike Ioane is being harassed by the IRS
At the Senate confirmation hearings, it was revealed that Geithner had not paid $35,000 in self-employment taxes for several years,[27] even though he had acknowledged his obligation to do so, and had filed a request for, and received, a payment for half the taxes owed. The failure to pay self-employment taxes, in part due to the way his employer reported his wages which was not in accordance with tax law, was noted during a 2006 audit by the Internal Revenue Service (IRS), in which Geithner was assessed additional taxes of $14,847 for the 2003 and 2004 tax years. Geithner also failed to pay the self-employment taxes for the 2001 and 2002 tax years (for which the statute of limitations had expired) until after Obama expressed his intent to nominate Geithner to be Secretary of Treasury.[28] He also deducted the cost of his children’s sleep-away camp as a dependent care expense, when only expenses for day care are eligible for the deduction.[29] Geithner subsequently paid the IRS the additional taxes owed,[30] and was charged $15,000 interest, but was not fined for late payment.[31] As President of the Federal Reserve Bank of New York, Geithner annually completed an ethics statement noting any taxes due or unpaid, along with any other obligations. Geithner’s completed statement did not surface during confirmation hearings.
In a statement to the Senate panel considering his nomination, Geithner called the tax issues “careless,” “avoidable” and “unintentional” errors, and he said he wanted to “apologize to the committee for putting you in the position of having to spend so much time on these issues.”[30] Geithner testified that he used TurboTax to prepare his own return and that the tax errors are his own responsibility.[32] This statement is in conflict with statements by the Obama campaign that Geithner was advised by his accountant that he did not owe the taxes.[33] The Washington Post quoted a tax expert who said that TurboTax has not been programmed to handle self-employment taxes when the user identifies himself as being employed.[34] Geithner said at the hearing that he was always under the impression that he was an employee, not a self-employed contractor,[34] while he served as director of the Policy Development and Review Department of the IMF.[6] Geithner comments are contradicted by the Senate report that showed he was not only informed of his status, but that he actively applied for the allowance.[35]
None of this makes any sense. LEAVE MIKE IOANE ALONE.

What does Mike Ioane think of our dollar.
So Iran has decided to stop using the US dollar, which means we should expect another rise in oil prices very soon. This is the beginning of a trend that can signal the end of the US dollar and our current FIAT monetary system. In order to understand why, let’s explain what a FIAT monetary system is.1870-1914: The period of the most economic growth for the USA, we were on the gold standard and had no central bank
Before we used to be on a GOLD STANDARD, meaning all reserve notes equaled a certain amount of gold that you can redeem. So I could redeem my $100 dollars of reserve notes for $100 dollars worth of gold, cause this is MY PROPERTY. This prevented the government from spending more than it could physically back, preventing deficit spending although in the future credit began to be issued on the gold. At this point, now the federal reserve could print out $10 for every $1 of gold, and every bank can extend $10 of credit for every $1 they had deposited. Now your dollar was no longer redeemable for gold and eventually they abandoned the gold standard entirely. This is called a FIAT monetary system where you print currency to match the demand for it. So if the bank needed to lower interest rates, they printed money. If the government wanted to spend more than it had, they printed more money.
So now the government is the first to use this money, so they get to use it at the current value, but as these dollars trickle down to the average American they have lost their value. This paper money no longer represents ownership of a universally valued commodity but are ownership of the debt to the federal reserve. So to redeem this dollar at the federal reserve only absolves a small portion of a growing debt and gives you nothing. If the dollar crashes, you’d have nothing.
So how does the dollar crash? Right now we’re floating by cause much international commerce is done in US dollars, so the demand is high for our currency which helps balance supply/demand. If countries like Iran stop using our currency, the demand for it goes down while the supply continues to rise cause of deficit spending. So now we have all this currency floating around without demand to keep it’s value stable. If this trend continues and most countries begin to deny the US dollar the supply will be in such excess it will have no value at all.
You might think that while imports now become super expensive, why would this effect domestic goods since no will stop using the dollar domestically? Well, with such a strong international economy many raw materials imported, and with all the manufacturing now overseas, those products too become really expensive. So domestic products that rely on imported materials and manufactured parts no suffer higher prices. Wages do go up in proportion with this type of inflation, and eventually we’d fall into another depression. So we must buck this trend.
How do we save the economy, we adopt Ron Paul’s Honest Money Act. This would legalize competing currencies. So now someone could establish a gold/silver backed currency or another currency that can compete. Of course whichever currency has the strongest and most stable value will be adopted by the market. So hypothetically, I could have a currency based on corn (Corn Notes), although this would not be a stable currency and wouldn’t be adopted. The most stable currencies are based on Metals, which gives us four choices Copper, Silver, Gold, and Platinum. Again, we’d let the market decide. You might even see new currencies back by other currencies like a Euro backed currency. In the end we’d end up with a strong currency again and avoid a force transition via another depression. I hope Mike Ioane stays strong and does not get depressed.

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Friends of Michael S. Ioane is a blog for postings from various authors. We are dedicated to news and information regarding how the Justice Department aids and abets the IRS in criminal activities with special emphasis on the Eastern District Court of California.
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